SunriseChampion
Senior Member
Some raves have ample personal space. Like under bridges and some of the warehouse ones. But yeah, you've haven't lived til you've tasted a stranger's sweat.
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Global aviation industry news
- Thread starter AlbertC
- Start date
Some raves have ample personal space. Like under bridges and some of the warehouse ones. But yeah, you've haven't lived til you've tasted a stranger's sweat.
AlbertC
Superstar
Delta loses $534 million in 1Q; much bigger losses looming
The Canadian Press April 22, 2020
Delta Air Lines, the biggest and most profitable U.S. airline, lost $534 million in the first quarter, a setback that will appear trivial when the full force of the pandemic is revealed in the current quarter.
Delta warned Wednesday that revenue during the April-through-June quarter, typically a period of harried travel, will plummet by 90% compared with last year, when there were no government travel restrictions and flights were full.
“These are truly unprecedented times for all of us," CEO Ed Bastian said.
Delta is the first U.S. carrier to detail the damage that began to emerge in at the tail end of the first quarter, although United Airlines said Monday that it would record a pretax loss of $2.1 billion, confirming what most had suspected.
It was Delta's first loss in almost five years.
The focus now at Delta and other airlines is to hunker down, cut costs, and borrow billions of dollars needed to ride out the pandemic. Bastian said Delta's focus will be saving cash at least for the rest of 2020.
ca.finance.yahoo.com
The Canadian Press April 22, 2020
Delta Air Lines, the biggest and most profitable U.S. airline, lost $534 million in the first quarter, a setback that will appear trivial when the full force of the pandemic is revealed in the current quarter.
Delta warned Wednesday that revenue during the April-through-June quarter, typically a period of harried travel, will plummet by 90% compared with last year, when there were no government travel restrictions and flights were full.
“These are truly unprecedented times for all of us," CEO Ed Bastian said.
Delta is the first U.S. carrier to detail the damage that began to emerge in at the tail end of the first quarter, although United Airlines said Monday that it would record a pretax loss of $2.1 billion, confirming what most had suspected.
It was Delta's first loss in almost five years.
The focus now at Delta and other airlines is to hunker down, cut costs, and borrow billions of dollars needed to ride out the pandemic. Bastian said Delta's focus will be saving cash at least for the rest of 2020.
Delta loses $534 million in 1Q; much bigger losses looming
Delta Air Lines, the biggest and most profitable U.S. airline, lost $534 million in the first quarter, a setback that will appear trivial when the full force of the pandemic is revealed in the current quarter.Delta warned Wednesday that revenue during the April-through-June quarter, typically a...
ca.finance.yahoo.com
AlbertC
Superstar
WestJet to further reduce its workforce with 3,000 additional layoffs
Apr 22 2020, 3:24 pm
dailyhive.com
Apr 22 2020, 3:24 pm
WestJet to further reduce its workforce with 3,000 additional layoffs | Mapped
WestJet issued an announcement in a media release on Wednesday that it would be issuing further layoffs due to coronavirus.
dailyhive.com
AlbertC
Superstar
Warren Buffett's company Berkshire Hathaway sells US airline shares
3 May 2020
Billionaire investor Warren Buffett says his company Berkshire Hathaway has sold all of its shares in the four largest US airlines.
Speaking at the annual shareholders' meeting, Mr Buffett said "the world has changed" because of the coronavirus.
He then said he had been wrong to invest in the airline industry.
Mr Buffett's comments came just hours after Berkshire Hathaway announced a record $50bn (£40bn) net first quarter loss, Reuters news agency reports.
The conglomerate had an 11% stake in Delta Air Lines, 10% of American Airlines, 10% of Southwest Airlines, and 9% of United Airlines, according to its annual report and company filings.
3 May 2020
Billionaire investor Warren Buffett says his company Berkshire Hathaway has sold all of its shares in the four largest US airlines.
Speaking at the annual shareholders' meeting, Mr Buffett said "the world has changed" because of the coronavirus.
He then said he had been wrong to invest in the airline industry.
Mr Buffett's comments came just hours after Berkshire Hathaway announced a record $50bn (£40bn) net first quarter loss, Reuters news agency reports.
The conglomerate had an 11% stake in Delta Air Lines, 10% of American Airlines, 10% of Southwest Airlines, and 9% of United Airlines, according to its annual report and company filings.
Warren Buffett's company Berkshire Hathaway sells US airline shares
The billionaire investor says he doesn't see any remaining upside in the airline industry.
www.bbc.com
AlbertC
Superstar
Air Canada Q1 profit plummets amid 'darkest period' for industry
Air Canada's chief executive officer had some blunt talk Monday about the magnitude of the crisis facing his industry as the country’s largest airline reported a sharp downturn in profitability.
"We are now living through the darkest period ever in the history of commercial aviation," Calin Rovinescu said in the airline's first-quarter report, which showed Air Canada's earnings before interest, taxes, depreciation and amortization (EBITDA) sank almost 90 per cent year-over-year to $71 million.
Rovinescu said his company was on track to achieve a 28th consecutive quarter of revenue growth until the world changed in early March amid the "sudden and catastrophic impact of COVID-19."
Since then, Air Canada has slashed capacity by as much as 90 per cent and said Monday it has achieved approximately $1.05 billion in cost savings. However, Rovinescu acknowledged it will be a long wait to restore pre-crisis activity.
"While the duration of the pandemic and its fallout remain unknown, it is our current expectation that it will take at least three years to recover to 2019 levels of revenue and capacity," he said in a release.
www.bnnbloomberg.ca
Air Canada's chief executive officer had some blunt talk Monday about the magnitude of the crisis facing his industry as the country’s largest airline reported a sharp downturn in profitability.
"We are now living through the darkest period ever in the history of commercial aviation," Calin Rovinescu said in the airline's first-quarter report, which showed Air Canada's earnings before interest, taxes, depreciation and amortization (EBITDA) sank almost 90 per cent year-over-year to $71 million.
Rovinescu said his company was on track to achieve a 28th consecutive quarter of revenue growth until the world changed in early March amid the "sudden and catastrophic impact of COVID-19."
Since then, Air Canada has slashed capacity by as much as 90 per cent and said Monday it has achieved approximately $1.05 billion in cost savings. However, Rovinescu acknowledged it will be a long wait to restore pre-crisis activity.
"While the duration of the pandemic and its fallout remain unknown, it is our current expectation that it will take at least three years to recover to 2019 levels of revenue and capacity," he said in a release.
Air Canada says virus impact to linger, major cuts to come - BNN Bloomberg
Air Canada says it lost $1.05 billion in its first quarter compared with a profit of $345 million in the same quarter last year as governments imposed travel restrictions around the world due to the COVID-19 pandemic.
www.bnnbloomberg.ca
lenaitch
Senior Member
Warren Buffett's company Berkshire Hathaway sells US airline shares
3 May 2020
Billionaire investor Warren Buffett says his company Berkshire Hathaway has sold all of its shares in the four largest US airlines.
Speaking at the annual shareholders' meeting, Mr Buffett said "the world has changed" because of the coronavirus.
He then said he had been wrong to invest in the airline industry.
Mr Buffett's comments came just hours after Berkshire Hathaway announced a record $50bn (£40bn) net first quarter loss, Reuters news agency reports.
The conglomerate had an 11% stake in Delta Air Lines, 10% of American Airlines, 10% of Southwest Airlines, and 9% of United Airlines, according to its annual report and company filings.
Warren Buffett's company Berkshire Hathaway sells US airline shares
The billionaire investor says he doesn't see any remaining upside in the airline industry.www.bbc.com
Seems Branson is a little tight on funds as well but many in the UK apparently aren't too sympathetic.
Should the UK bail out Richard Branson’s Virgin Atlantic? – podcast
Guardian wealth correspondent Rupert Neate looks at why billionaire Sir Richard Branson is asking the UK government to give his Virgin Atlantic airline a £500m bailout to help it survive the economic fallout of the lockdown
www.theguardian.com
Admiral Beez
Superstar
Virgin's not a private company, and Branson is not the majority owner. Any bailout would go to keeping its shareholders and employees above water. The alternative is the demise of both.Seems Branson is a little tight on funds as well but many in the UK apparently aren't too sympathetic.
Should the UK bail out Richard Branson’s Virgin Atlantic? – podcast
Guardian wealth correspondent Rupert Neate looks at why billionaire Sir Richard Branson is asking the UK government to give his Virgin Atlantic airline a £500m bailout to help it survive the economic fallout of the lockdown
lenaitch
Senior Member
Every link I can find says he is a majority shareholder (51%) with Delta owning the rest.
AlbertC
Superstar
Airlines heading for $84 billion loss this year: IATA
June 9, 2020
PARIS (Reuters) - Airlines are set to lose $84 billion as the coronavirus pandemic reduces revenue by half to mark the worst year in the sector's history, the International Air Transport Association (IATA) forecast on Tuesday.
With most of the world's airliners currently parked, IATA said revenue would likely fall to $419 billion from $838 billion last year.
"Every day of this year will add $230 million to industry losses," IATA Director General Alexandre de Juniac said.
The average loss amounts to almost $38 per passenger flown.
In 2021, IATA warned losses could hit $100 billion as traffic struggles to recover and airlines slash fares to win business.
"Airlines will still be financially fragile in 2021," De Juniac said, predicting "even more intense" competition.
"That will translate into strong incentives for travellers to take to the skies again," he added.
ca.finance.yahoo.com
June 9, 2020
PARIS (Reuters) - Airlines are set to lose $84 billion as the coronavirus pandemic reduces revenue by half to mark the worst year in the sector's history, the International Air Transport Association (IATA) forecast on Tuesday.
With most of the world's airliners currently parked, IATA said revenue would likely fall to $419 billion from $838 billion last year.
"Every day of this year will add $230 million to industry losses," IATA Director General Alexandre de Juniac said.
The average loss amounts to almost $38 per passenger flown.
In 2021, IATA warned losses could hit $100 billion as traffic struggles to recover and airlines slash fares to win business.
"Airlines will still be financially fragile in 2021," De Juniac said, predicting "even more intense" competition.
"That will translate into strong incentives for travellers to take to the skies again," he added.
Airlines heading for $84 billion loss this year: IATA
Airlines are set to lose $84 billion as the coronavirus pandemic reduces revenue by half to mark the worst year in the sector's history, the International Air Transport Association (IATA) forecast on Tuesday. With most of the world's airliners currently parked, IATA said revenue would likely...
AlbertC
Superstar
Lufthansa says up to 26,000 employees at risk of losing jobs
Reuters June 10, 2020
BERLIN (Reuters) - Lufthansa <LHAG.DE> admitted on Wednesday that the positions of up to 26,000 employees are surplus to requirements, suggesting many more jobs will be cut at the German carrier than a figure of more than 10,000 flagged a few weeks ago.
Speaking after a meeting with trade unions, a Lufthansa spokeswoman said the airline estimates that it has a surplus of 22,000 full-time equivalent positions or 26,000 employees.
ca.finance.yahoo.com
Reuters June 10, 2020
BERLIN (Reuters) - Lufthansa <LHAG.DE> admitted on Wednesday that the positions of up to 26,000 employees are surplus to requirements, suggesting many more jobs will be cut at the German carrier than a figure of more than 10,000 flagged a few weeks ago.
Speaking after a meeting with trade unions, a Lufthansa spokeswoman said the airline estimates that it has a surplus of 22,000 full-time equivalent positions or 26,000 employees.
Lufthansa says up to 26,000 employees at risk of losing jobs
Lufthansa <LHAG.DE> admitted on Wednesday that the positions of up to 26,000 employees are surplus to requirements, suggesting many more jobs will be cut at the German carrier than a figure of more than 10,000 flagged a few weeks ago. Speaking after a meeting with trade unions, a Lufthansa...
AlbertC
Superstar
Toronto Pearson Airport cutting 500 jobs as air travel falls to 1996 levels
Tuesday, July 14, 2020
TORONTO -- Canada's busiest airport is cutting approximately 500 jobs because of a significant drop in air traffic due to the COVID-19 pandemic.
The Greater Toronto Airports Authority (GTAA) announced on Tuesday it is cutting 27 per cent of its workforce at Toronto's Pearson Airport to allow for a more "nimble, innovative, and recovery-focused" operation.
"These changes reflect a significant decrease in global air traffic, with passenger numbers at Toronto Pearson currently at approximately 1996 operating levels," the GTAA said in a statement.
The GTAA said passenger numbers in April of this year were reduced by 97 per cent compared to the same period of 2019.
The reduction of jobs will come through the elimination of about 200 unfilled positions, combined with voluntary departures and layoffs totally about 300 employees.
The reductions come into effect beginning on Monday, with job losses extending through fall 2020.
Among the high-ranking departures are two of the GTAA's vice-presidents, whose work will be redistributed under a revamped management structure headed by Craig Bradbrook.
Tuesday, July 14, 2020
TORONTO -- Canada's busiest airport is cutting approximately 500 jobs because of a significant drop in air traffic due to the COVID-19 pandemic.
The Greater Toronto Airports Authority (GTAA) announced on Tuesday it is cutting 27 per cent of its workforce at Toronto's Pearson Airport to allow for a more "nimble, innovative, and recovery-focused" operation.
"These changes reflect a significant decrease in global air traffic, with passenger numbers at Toronto Pearson currently at approximately 1996 operating levels," the GTAA said in a statement.
The GTAA said passenger numbers in April of this year were reduced by 97 per cent compared to the same period of 2019.
The reduction of jobs will come through the elimination of about 200 unfilled positions, combined with voluntary departures and layoffs totally about 300 employees.
The reductions come into effect beginning on Monday, with job losses extending through fall 2020.
Among the high-ranking departures are two of the GTAA's vice-presidents, whose work will be redistributed under a revamped management structure headed by Craig Bradbrook.
Toronto Pearson Airport cutting 500 jobs as air travel falls to 1996 levels
Canada's busiest airport is cutting approximately 500 jobs because of a significant drop in air traffic due to the COVID-19 pandemic.
toronto.ctvnews.ca
Richard White
Senior Member
I wonder if they will attempt to consolidate the terminals at Pearson given the lack of traffic. Temporarily mothballing one may save money they badly need.
AlbertC
Superstar
Airline industry not expected to return to pre-COVID traffic levels until 2024
Jul 28 2020
dailyhive.com
Jul 28 2020
Airline industry not expected to return to pre-COVID traffic levels until 2024 | Mapped
The International Air Transport Association has released an updated global passenger forecast showing the airline industry is expected to recover in 2024.
dailyhive.com
Admiral Beez
Superstar
Just hydro and cleaning.
AlbertC
Superstar
Porter Airlines extends flight suspension until at least February 2021
November 9, 2020
Air Canada reports $685M loss in third quarter amid COVID-19 pandemic
globalnews.ca
November 9, 2020
Porter Airlines extends flight suspension until at least February 2021
Porter Airlines has extended its temporary flight suspension until after the holiday season and into the new year.
toronto.ctvnews.ca
Air Canada reports $685M loss in third quarter amid COVID-19 pandemic
Air Canada reports $685M loss in third quarter amid COVID-19 pandemic
Air Canada says the total number of passengers carried in the quarter was down 88 per cent compared with a year ago.
globalnews.ca